Mission Wealth Management LP Has $719,000 Stock Position in GE Vernova Inc. (NYSE:GEV)

Mission Wealth Management LP reduced its stake in shares of GE Vernova Inc. (NYSE:GEV) by 5.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,185 shares of the company’s stock after selling 114 shares during the period. Mission Wealth Management LP’s holdings in GE Vernova were worth $719,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of GEV. Cedar Mountain Advisors LLC grew its holdings in shares of GE Vernova by 102.6% during the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after purchasing an additional 39 shares in the last quarter. Pineridge Advisors LLC grew its holdings in shares of GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after purchasing an additional 69 shares in the last quarter. Covestor Ltd lifted its position in shares of GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after buying an additional 46 shares during the last quarter. Darwin Wealth Management LLC bought a new stake in shares of GE Vernova during the 3rd quarter worth $31,000. Finally, Prestige Wealth Management Group LLC lifted its position in shares of GE Vernova by 175.0% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after buying an additional 77 shares during the last quarter.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. CICC Research assumed coverage on GE Vernova in a research report on Wednesday, February 19th. They set an “outperform” rating for the company. The Goldman Sachs Group upped their price objective on GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Citigroup upped their price objective on GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Morgan Stanley upped their price objective on GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, Baird R W upgraded GE Vernova to a “strong-buy” rating in a research report on Thursday, February 13th. Eight analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus price target of $347.83.

GE Vernova Stock Down 1.1 %

GEV stock opened at $312.56 on Wednesday. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50. The stock’s 50 day moving average is $362.56 and its 200-day moving average is $308.16. The firm has a market capitalization of $86.24 billion and a PE ratio of 56.22.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. The business’s revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.32%. GE Vernova’s dividend payout ratio is presently 17.99%.

GE Vernova announced that its Board of Directors has approved a share buyback program on Tuesday, December 10th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 6.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

GE Vernova Profile

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.